Goods

Chattel
Chattel refers to tangible, movable personal property, as opposed to real property, which is immovable. Examples of chattel include goods, vehicles, and furniture.
Consumer Protection
Laws designed to aid retail consumers of goods and services that have been improperly manufactured, delivered, performed, handled, or described. Such laws provide the retail consumer with additional protection and remedies not generally provided to merchants and others who engage in business transactions.
Export
Exporting is the process of shipping goods produced in one country for sale in another and the transfer of data from one computer or application to another. This term has significant relevance in international trade and data handling.
Goods
Goods refer to commodities or items of commerce that are tangible and physical, and can be owned, sold, or exchanged in the marketplace, excluding real estate, choses in action, investment securities, or similar items.
Goods and Services
Goods and Services form the backbone of any economy, representing the outputs that fulfil human needs and wants. Goods refer to tangible products, while services pertain to tasks performed by individuals or entities.
Line
A term with multiple meanings in business referring either to personnel involved in production or distribution, or the types of goods produced or carried.
Merchandise
Goods and commodities sold at the retail level. Merchandising is the buying, presenting, and selling of merchandise, including related activities like advertising, displaying, and promoting them to retail customers.
National Wealth
An economic measure that represents the sum total of the value of all capital and goods held within a nation. It encompasses the net value of all assets owned by residents and businesses of a country at a particular time.
Time of Supply
In accounting, the time of supply refers to the date when goods are removed or made available to a customer, or when services are completed for a customer, marking the point at which tax is chargeable.
Wares
Wares refer to goods or merchandise, often manufactured items of a similar kind, such as glassware. These items are typically sold in bulk or as part of a collection.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.